Trafford Centre
This coverage explores the Trafford Centre’s significance within the UK retail landscape, with reporting on store openings and closures, leasing activity, redevelopment projects, consumer trends, and marketing strategies. Designed for professionals managing retail operations, property planning, and strategic decision-making in high-profile shopping destinations.
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Jul- 2020 -16 JulyComment
Intu the unknown: The future of the shopping centre
Saddled with unsustainable levels of debt and lacking rental income over the past two quarters due to Covid-19 restrictions, Intu finally announced its move into administration earlier this month. The shopping centre giant’s collapse left thousands of shops and livelihoods on the line and it represented a pivotal moment for…
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2 JulyClothing & Shoes
Primark welcomes ‘encouraging’ trade after sales slump
Primark sales plunged by 75% to £582m in its third quarter of trading, while its year-to-date sales fell by 27% to £4.3bn. Its parent company, Associated British Foods (ABF), now estimates that its adjusted operating profit will fall between £300m and 350m for the full year, compared to the £913m…
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Jun- 2020 -29 JuneNews
Investors push for Trafford Centre sale
A Canadian investor is reportedly pushing for the sale of Intu’s Trafford Centre following Intu’s collapse, the Sunday Times has reported. The reports come only days after Intu collapsed into administration on Friday 26 June. Following the administration, control of Intu’s 17 shopping centres will be passed to their respective…
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Mar- 2020 -26 MarchCoronavirus
Intu receives only third of rent
Intu revealed that it has received only 29% of its second quarter rent that was due from tenants on 25 March. For the same period last year, it had received 77% on the quarter day, and the group is now in discussions with its customers regarding the outstanding rents. In…
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4 MarchShopping Centres
Intu abandons £1bn equity raise plans
Intu revealed it has abandoned plans to raise between £1bn and £1.5bn in emergency cash, citing “current uncertainty” in the equity markets. The retail property group had previously announced it was reviewing a “range” of options to fix its balance sheet and establish a “more appropriate” long-term capital structure. In…
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Jan- 2020 -20 JanuaryProperty
Intu seeks £1bn of emergency funds
Intu has announced it will seek to raise equity in its efforts to fix its balance sheet. The commercial real estate giant said it was a “number one priority” to make progress in its strategy to fix the balance sheet, which included targeting an equity raise alongside its full year…
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Dec- 2019 -20 DecemberShopping Centres
Westfield named best shopping centre in the UK
Westfield London and Westfield Stratford has been named the best shopping centres in the UK, for the second year running. According to GlobalData’s Top 50 Shopping Centres Report for 2019, Bluewater in Greenhithe, Kent was ranked in third place, followed by Intu Trafford Centre in Manchester. Intu Lakeside, Sheffield’s Meadowhall…
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Nov- 2019 -29 NovemberShopping Centres
Intu drafts in PwC advisers
Intu properties has appointed PwC advisers to help the restructuring of its balance sheet. According to Sky News, the shopping centre has hired PricewaterhouseCoopers (PwC) to work alongside its existing City advisers. It is understood the appointment has taken place in the last few days ahead of the festive period.…
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Oct- 2019 -14 OctoberClothing & Shoes
Khaadi Fashion rescued after pre-pack administration
Asian clothing retailer Khaadi Fashion has been rescued after a pre-pack administration, saving the majority of its staff’s jobs. The Pakistani fashion and lifestyle brand was founded in 2013 and had operated from 10 stores nationwide in shopping centres such as Westfield London, Westfield Stratford, Bullring Birmingham and Trafford Centre…
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Jul- 2019 -31 JulyShopping Centres
Intu reports 7% drop in rental income amid ‘challenging’ first half
Shopping centre owner Intu has reported a 7.7% decrease in net rental income during a “challenging” first half of the year and said it expects a similar result for the rest of 2019. During the first six months of the year ending 30 June its rental income fell to £205.2m…
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